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Updated almost 5 years ago, 01/26/2020

User Stats

112
Posts
221
Votes
Nikki Closser
  • Investor
  • Michigan
221
Votes |
112
Posts

Owner Financing-Is it subletting? Park wants it all in their name

Nikki Closser
  • Investor
  • Michigan
Posted

Hi! Many park managers are telling me they don't allow subletting. However, I've been explaining a bit further that the tenant will be buying the home as they pay make payments to us. Some have still given me a solid NO and some are saying it might be possible. 

One park manager told me that the lot lease has to be in both of our names (me and the buyer) and then it's fine. And one manager told me as long as the whole thing is in their name, lot lease and home, they don't care who they are making payments to for the home. 

I'm still super confused about the process of who has what in their name. At what point is it okay to not have your name on the lot lease and home at all? Or do we put everything in both of our names?

Thanks for all of your help!

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